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Posted by
Two Blokes May 24, 2025 -
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May 23, 2025 – TheNewswire — Integrated Cyber Solutions Inc. (CSE: ICS) ("Integrated Cyber" or the "Company") is pleased to announce that it intends to undertake a non-brokered private placement financing (the "Offering") of up to CDN$500,000, consisting of the issuance of convertible debenture units (each, a "Debenture Unit") at a price of CDN$1,000 per Debenture Unit. Each Debenture Unit shall be comprised of: (i) a CDN$1,000 principal amount unsecured convertible debenture (each, a "Debenture"); and (ii) 2,000 common share purchase warrants (each, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one common share in the capital of the Company (each "Warrant Share") at a price of C$0.25 per Warrant Share for a period of three (3) years from the date of issuance thereof. The principal amount of the Debenture will have a maturity date of twenty-four (24) months following the issuance of the Debentures (the "Maturity Date") and will accrue interest at a rate of 20.0% per annum. The Company has the option, at its sole discretion, to extend the Maturity Date to thirty-six (36) months from the issuance date of the Debentures. At the sole option of the subscribers, the principal amount under the Debentures may be converted into common shares of the Company ("Common Shares") at any time until the business day immediately preceding the Maturity Date (the "Conversion Date") at a conversion price (the "Conversion Price") equal to CDN$0.25. If at any time prior to the Maturity Date the 15-Day VWAP meets or exceeds CDN$0.75, the Company shall have the option, but not the obligation, at any time thereafter to convert any non-converted remaining principal amount under the Debentures into Common Shares at the Conversion Price (the "Automatic Conversion").
